When it comes to bank stocks, I like BofA right here, adds JJ Kinahan of TD Ameritrade. And if Citi breaks below $3.15 I’d think the stock is in trouble.
I see Citi as a call option, adds Pete Najarian. Citi near $3 looks interesting but only if you have a longer-term timeline. If you’re looking out the next few years I think we could see a double out of Citi – and a double out of BofA, too!
TAKE YOUR POSITION: RIMM, PALM & ORACLE
Technology will likely dominate Friday’s trading with earnings from both RIM and Palm due after the bell.
How should you game it?
RIM'S Earnings Reaction
% Change from 2-days before to 1-day following report
Options action suggests RIM could move 8% in either direction, explains Pete Najarian.
I’m watching $65 in RIM as an important level, says Jeff Tomasulo. If it stays above 65 after earnings technicals suggests it could move to $70.
I’m seeing a lot of buyers of January 10 puts in Palm, adds JJ Kinahan.
> For more on RIM and Palm earnings click here
FAST & FURIOUS: THE KEY QUESTIONS INTO THE CLOSE
BUY NKE? With Nike set to report earnings after the bell, should you buy?
I’m a buyer, says Pete Najarian.
BUY AMZN? Citi raised its price target on Amazon to $170; should you buy?
I’m a buyer, says JJ Kinahan, but I’d play it with options.
BUY OIL?Oil traded marginally lower on the session as the dollar rallied; is this a buying opportunity?
I like nat gas better, says Eugene Profit.
BUY GS?Goldman Sachs traded to the downside today; is this a buying opportunity?
I’m a cautious buyer around $160, says Jeff Tomasulo.
TRADE TO GO: STORAGE PLAY
Pete Najarian suggests putting Seagate on your radar. It’s been strong in a strong tape and strong in a weak tape. I think it’s a great stock.
CALL THE CLOSE
Pete Najarian : I don’t like this market right now. I’m not either a buyer or seller
JJ Kinahan : I’m a buyer into expiration
Eugene Profit : I’m a seller
Jeff Tomasulo: The market seems range bound. I’d sell the top of the range around 112 in the SPY and buying the bottom around 109.
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Trader disclosure: On December 17th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (AAPL), (BAC), (FXI), (INTC), (TSO), (GE), (EEM); Finerman's Firm Owns (MSFT), (NOK), (AAPL); Finerman's Firm Owns (BAC) Preferred, (BAC), (BAC) Call Spreads; Finerman Owns (BAC) Preferred, (BAC); Finerman's Firm And Finerman Own (WFC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (UNG); Najarian Owns (ORCL) Jan. Calls, Is Short (ORCL) Dec. Calls; Najarian Owns (AAPL) Calls; Najarian Owns (FCX) Call Spread; Najarian Owns (GE) Calls; Najarian Owns (MS); Najarian Owns (RIMM) Jan. Calls, Is Short (RIMM) Dec. Calls; Najarian Owns (UUP) Call Spread
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